M/S HANUMAN TUBE WELL CO.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

40b of the Act,) should be disallowed to the extent of Interest on CDR and Interest on Income Tax Refund treating these Interests as Income from other sources in place of Business Receipts and Rejected the concept of Book Profit for the purpose of calculating Remuneration to Partners. The order challenged before Ld. CIT(A) which was dismissed through their

BHAWANI CHEM,JAIPUR vs. ASSESING OFFICER, JAIPUR

In the result, the appeal of the assessee is allowed

section 251 of Income tax Act, 1961.’’ 3.3 During the course of hearing, the ld. AR prayed that the lower authorities have erred in confirming the addition for which following written submission has been filed by the ld. AR of the assessee. ‘’The main issue in this case relates to disallowance of Rs 469198.00 as interest to partners

PALIWAL JEWELLERS,JAIPUR vs. ACIT, JAIPUR

In the result, the appeal of the assessee is allowed for statistical purposes

disallowed wrong and illegal. 3. That on facts and law the ld. CIT(A) has grossly erred in holding that the surrendered stock was not in the nature of business income. The surrendered stock has direct nexus with appellant business; as such the said surrendered stock is the business income of the appellant. Further on such surrendered stock remuneration

INCOME TAX OFFICER, JAIPUR vs. GOLDENDUNES HEIGHTS LLP, JAIPUR

Bench: Him.

section 142(1) of the Act dated 13.02.2021 was asked to prove the identity, creditworthiness and genuineness of loan transactions. The assessee submitted details and on perusal of the same ld. AO noticed that it has failed to justify the unsecured loan from the following parties. (i) Aventez Media Technology- The assessee has received loan

BAJARGAN TRADERS,JAIPUR vs. ACIT, ALWAR

In the result, the ground no

disallowing the interest expenses of Rs. 1,39,366/- on the ground that the advance is given to Smt. Rita Gupta at interest rate of 10% whereas assessee has paid interest on the borrowed funds @ 14% whereas the AO has made this addition on account of notional interest. 2. Regarding Ground No. 1, the facts of the case are that